The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-07-02
DUN'S TRADE HOROSCOPE
A POOR OUTLOOK FOR HIGHER
PRICES FOR WHEAT.


| to be Carried Overhead Estate
Values Still Holding Their Own
Railroad Building not as Extensive
as Had Been Expected.
NEW YORK, July 1.-R. G. Dun.& Cos
weekly review of trade says: "The week
has been one of satisfactory business for
the season, but of unusual disturbance in
speculation. Liquidation has reached the
stock market At their lowest stocks were
down to the fall of January last, as their
highest in May had accurately corresponded
with their highest average before the break
| in December. The corner in June wheat at
| New York has succeeded as completely as
the Chicago corner failed, and the prices
made have been so palpably artificial that
June delivery sold on the last day of the
month 2216c. above the same grade
| for July Nominally cash wheat fell 81
cents on Friday, though the actual price for
other uses than the settlement of specula-
| tive contracts was not above 8619 cents on
| Thursday, and S513 on Friday. June ex-
ports have been large, but the stock carried
over to the new crop year will not fall
much below 50,000,00 bushels in excess of
| the minimum, and the crop reports are gen
orally favorable, though the prolonged
drought in some parts of the northwest
| causes apprehension and may lessen the
yield.
| THE REAL ESTATE MARKET.
"From Omaha and some other points come
| reports that the real estate excitement has
| abated, though prices are maintained and
| large sums are being expended in building
The official returns for five months from
| thirty-five cities of all sizes and in various
| parts of the country show that the value of
| new buildings in that time was 4-l2 per
| cent of the assessed valuation of all real
estate there in 1880, and the transfers of
| property IS per cent at all points, against IA
per cent. at New York. These figures would
| point to an expenditure in building OF 81
300, 100000. if the same activity should last
| through the year, and to transfers of S4,-
| 800, 600, 900. 1t need not be added that a
reaction and diminished activity in this di-
rection are to be expected.
| RAILROAD BUILDING.
available has been turned into fixed
| capital largely in railroad building, though
the returns disappoint those who expected a
larger mileage completed this year than in
1882 So far the mileage is 500 above that
of last year to date, but about 800 miles
below the completed work to date in 1880,
1881, or 1888, and $500 below the record of
1882 The May and June returns exceed
| last years but little, but the new securities
listed at the Stock Exchange this year al
ready exceed S132, 100000 of stock and $133,- :
100000 Of bonds, which in part accounts for
the hesitation in the prices.
SATISFACTORY REPORTS.
''The general reports are almost without
exception satisfactory, trade being good for
the time of the year, collections fair or bet
| ter, and money in reasonable supply at all
interior points The disasters at Chicago
al 70 hnx LoI .
| feet elsewhere. The most encouraging fea-
ture in the settlement as to wages
in the iron manufacture are the ten
| per cent. advance and the closing
of the builders strike at Chicago and
| shoemakers' strike in Massachusetts, and the
ore handlers strike at Cleveland The coke
strike still keeps some furnaces idle, and
stocks of iron west of the mountains are
thought to have fallen from 1914, ,07S tons
May l to 10000 tons. An advance in
August is hoped for, and old rails have
risen the past week.
THE COAL OUTPUT.
"The coal output for the half year will ex-
ceed by 900 tons the largest previous
output, and an advance in prices is again
predicted.
"In most other branches of trade the CON
dition is reported satisfactory for the sea-
| son. Monetary anxieties continue, how
ever. The bank surplus has never been as
low at this time of any previous year
and the treasury has taken in 81 800, 900
in gold, while putting out 81 100000 in
currency. The heaviest withdrawal of bank
| bonds ever reported on single day natur-
ally attends the maturing of the last call for
3 per cents, and the treasury officials are
disappointed because the deposits for circu-
lation reach only 81 100000.
THE WORLDS BANKER.
Zone open supply of money is the London
market, but recent events have caused some
sales of stocks on foreign account and mer-
chandise exports from New York fell 8 per
cent below while the imports rise 16 per
cent above those of last year for June. The
disbursements for interests and dividends
this month, however, are estimated at
500, 100000.
'The business failures occurringsthrough-
out the country during the last week num-
Der for the United States 155 and Canada
26, total of 1s1, against 1917 last week and
2l3 the week previous"
COFFEE DEALERS FAIL.
New YoRK, July flames NJ Edwards
| e. Co.. coffee dealers at No. 100 Water
street, have assigned TO Thomas 7. Barr, a
coffee dealer of No. 107 Front street, with
out preferences. The firm consists Of James
NJ Edwards and Frank a.. Anthony, and
| some time ago was estimated to be worth
500, 900. No statement has yet been made,
but meeting Of creditors is to be held next
week and a statement given.
TOBACCO MANUFACTURERS ASSIGN.
LOUISVILLE, July 1.--Dick, Middleton e.
Co, proprietors of the Giant Tobacco
Works of this city, made an assignment TO
the Fidelity Trust and Safety Vault Com
pany at O'clock to-day. They were manu-
facturers of chewing tobacco. The esti-
mated liabilities are 100000 and the
nominal assets 100000. The failure is not